The real property value percentage change by property type is based on the total property reported in each county. The real property value of individual property in each county may not be affected by the same percentage change.

Real property valuations are set by the county assessors and are subject to review during the statewide equalization proceedings before the Tax Equalization and Review Commission. Real property valuation change notices will be mailed on or before June 1, 2014 to real property owners who had real property values that increased or decreased from 2013 to 2014.

Increases to real property valuations may result in an increase of tax revenue for local governmental subdivisions. If the tax rates from the previous year remain unchanged, additional property taxes would be generated. Local property taxes are the product of spending and budgeting decisions made by local governments, based on their fiscal needs. The final budgets must be approved by September 20 of each year. Tax rates must be determined by October 15 of
each year.

Attached to this news release are the percentage changes by county and by major property type. This news release and attachment are available at revenue.nebraska.gov/PAD.

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Mayor Chris Beutler today said user fee increases helped his administration meet its main objectives for the City's first biennial budget - no property tax increase, no major program cuts and no use of one-time money for ongoing programs.

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NIFA’s Homeownership team recently held annual lender training meetings at the LaVista Conference Center on October 17th and at the Holiday Inn Express in North Platte on October 18th. At these events, awards were presented to the Top Producers and Shining Stars. Top Producer awards are given to the top ten loan officers who originate the most NIFA loans for first-time homebuyers in Nebraska in 2015.

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